LINKUSD Trend Analysis/Fundamental Analysis
Updated
FUNDAMENTAL :
Chainlink is developing the off-chain structure,that is connected to a specific resource/API. In my opinion, this will be the next big thing of 2018, when all the Ethereum based tokens will go online and the on-chain system will be overloaded. People are buying blockchain/infrastructure tokens as the next big thing (e.g EOS,RCHAIN,CARDANO etc) but, no one of them is fully functional. CHAINLINK will also support payments, a big plus for this industry to evolve in something bigger. For SMart Contracts, to see the level of adoption we all are hoping for, they need a robust trust-minimized mechanism to fetch external data. Oracles are critical !
TECHNICAL :
5 waves triangle pattern just formed(ABC for every wave and 5 waves inside each wave). A descending triangle occurs when there is a downward sloping resistance line and a horizontal support line that meet together at the right side of the pattern. For the triangle pattern to be valid, both the support line and the resistance line must be touched by prices PRICE.Price tried to break the down-trend line for 4 times and twice the support line.
For the first time, RSI is on the over sold area! Amazing opportunity to enter. More conservative, wait until RSI breaks the resistance line at around RSI=52.
Chainlink is developing the off-chain structure,that is connected to a specific resource/API. In my opinion, this will be the next big thing of 2018, when all the Ethereum based tokens will go online and the on-chain system will be overloaded. People are buying blockchain/infrastructure tokens as the next big thing (e.g EOS,RCHAIN,CARDANO etc) but, no one of them is fully functional. CHAINLINK will also support payments, a big plus for this industry to evolve in something bigger. For SMart Contracts, to see the level of adoption we all are hoping for, they need a robust trust-minimized mechanism to fetch external data. Oracles are critical !
TECHNICAL :
5 waves triangle pattern just formed(ABC for every wave and 5 waves inside each wave). A descending triangle occurs when there is a downward sloping resistance line and a horizontal support line that meet together at the right side of the pattern. For the triangle pattern to be valid, both the support line and the resistance line must be touched by prices PRICE.Price tried to break the down-trend line for 4 times and twice the support line.
For the first time, RSI is on the over sold area! Amazing opportunity to enter. More conservative, wait until RSI breaks the resistance line at around RSI=52.
Trade active
Waiting for RSI Daily to correct on the support line at around 50 RSI. Then a good buy again.Trade active
Trade still activeTrade active
RSI is bullish, so I expect to enter again, or buy more around those levels. Next target : 70c usd
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